Talal Al Zain, who recently resigned from Bahrain’s sovereign wealth fund, has been appointed as the CEO of PineBridge’s MENA operations.
Britain is reportedly holding talks with Abu Dhabi to sell a part of its stake in Royal Bank of Scotland.
The move marks the first significant direct investment by the Abu Dhabi fund in Brazil and Latin America, it said.
The rental rates for apartments and villas rose by one per cent in Q1 2012 compared to Q4 2011, according to Asteco.
A study is being conducted to check the economic impact of the move, which will introduce a single tax rate across the seven emirates.
Emirates NBD said that its shareholders had approved a cash dividend of 20 fils per share for 2011.
The Mall of Egypt will be one of North Africa’s largest shopping centres.
The construction of a second terminal at the international terminal looks set to go ahead.
The port operator has said that it will pay off its loan, which matures in October, six months ahead of schedule.
While the UAE capital has taken stringent measures to ensure compliance, Dubai and the other emirates are still lagging behind, say experts.
Dubai-based mall and hotel firm pulls in profits amid MENA Arab Spring turmoil.
The Dubai-based property developer saw overall revenues for 2011 falling by 33 per cent compared to 2010.
The UAE lender’s loan will help Indonesian coal producer AKT to meet its working capital needs.
Employed UAE residents will not need a labour card from the end of June, an official from the labour ministry has confirmed.
Abraaj is making the acquisition through its subsidiary, Riyada Enterprise Development.
The occupancy rate for hotels in February reduced by 2.4 per cent year-on year, according to STR Global.
The micro-blogging site, which is celebrating its sixth birthday, is now seeking to find the right revenue model.
The hotel group targets to have 100 hotels either operating or under construction in the region by 2015.
Mumtalakat has appointed ALBA chairman Mahmood Hashem al-Kooheji as its new CEO.
The emirate has launched a new cultural district in Downtown Dubai, which will include an opera house, an art museum, galleries and art hotels.
The five-year bond is the third issue by Emirates NBD this year and the second by a UAE bank this week.
This is the country’s worst economic performance since 1994, when oil prices fell to $13 per barrel.
India-based Kingfisher Airlines, which operates daily flights to Dubai, said that it was cancelling all its international routes.
The lender had earlier said that it was advised by the UAE central bank to cut its dividend to 10 per cent.
While authorities have taken steps to improve the rights of workers at Saadiyat island, more is needed, says Human Rights Watch.
The property developer said that it will discuss the proposal with shareholders during its annual general meeting on April 23.
However, the UAE Economy Minister said that resuming trade in Amlak stocks will take more time.
Apple tops the global top brands list, which also includes the three entries from the GCC.
The five-year dollar bond is being issued under the National Bank of Abu Dhabi’s $5 billion programme.
The total number of valid trade licences registered in the emirate until late last year reached nearly 103,792.